NTPC awards 1.2GW solar auction at record-low tariff

It received bids of about 1.7GW in capacity.

The reverse auction led by the Indian state-owned power group NTPC for 1.2GW of solar power projects under the Interstate Transmission System (ISTS) has seen a record low tariff of $0.032 (INR2.43) per kWh proposed by O2 Power, Azure Power, and Tata Power.

O2 Power won 400MW of solar capacity, Tata Power 370MW and Azure Power 300MW. In addition, Amp Energy secured project capacities of 100MW at a tariff of $0.032 (INR2.44) per kWh. Overall, NTPC received bids of about 1.7GW capacity. The auction has a minimum capacity utilisation factor condition of 19% and a commissioning timeline of 2 years.

This article was originally published by Enerdata.